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The Chavez family has decided to save for a new spa. They want to save $10,000 and have that available in five years. They find
The Chavez family has decided to save for a new spa. They want to save $10,000 and have that available in five years. They find an investment account that pays 8.2% compounded monthly. How much will they have to deposit at this rate each month to meet this goal?
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